Hello all Hive Friends.
Hope you all are doing good.
Today I want to talk about my understanding of crypto. Until last year I was not very much familiar with crypto. I heard the word but did it know much except that it’s something on internet, it’s a virtual money and people are getting rich instantly. To me it was a mystery. I knew about bitcoin and that’s it.
Last year u was introduced to hive and from there my crypto journey stared. I learnt hive, how it works, what are different tribes and tokens. This was all very interesting.
I used to thought how come something that’s not even physically present be so expensive and people are crazy about it. Now I know the reason, it holds some value and that value defines the price of the token or crypto currency.
In order to expand on a network you need resources and resources are in the form of network currently and in the case of hive it’s hive power. Hive power is the liquid money and then you also have something called Hive based Dollar Alain k own as HBD. It’s hive’s native currency pegged agains US dollars. So it’s pretty stable. Hive ecosystems makes sure that the values of HBD remains around 1 dollar.
I am still learning about the network and ecosystem. I know that there is a concept of BEEs. But I am still it too sure of the meaning and purpose of theses. I will keep digging and hoping to have the answer soon.
I love the fact that anyone can create their own tribe and float their own currency or token. This is pretty awesome. If you meet the requirements, you can launch your own token and if it’s some interesting concept and people like it, they will be attracted ire towards you tribe and more traffic means more value which in terms results in better price of the Token.
Many thanks for reading and upvoting my post.This is also my entry 12 of 30 day content challenge. Hopefully I will be able to post everyday.
Here is the link for more details about this contest.